EU’s Energy Turmoil; Netflix Earnings & Chill 7/20/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 20 July 2022

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Nord Stream 1 pipeline, the main route for Russian energy passage to the rest of Europe, is set to start functioning again on Thursday, but EU leaders are concerned that the Kremlin won’t restart flows, especially after the majority state-owned energy giant Gazprom originally cut flows to 40% and is now suggesting that it cannot fulfill its energy contracts with the EU, even if the pipeline reopens as planned. Europe’s energy turmoil could spell bigger supply and cost problems in the U.S.; Transportation Secretary Pete Buttigieg discusses what’s next in energy geopolitics, at home and abroad. After an alarming first quarter, Netflix is quelling investor concerns with its Q2 report. Variety’s Cynthia Littleton and Engine Media’s Tom Rogers discuss what these financial results mean for the rest of the streaming landscape. Plus, the Elon Musk-Twitter saga could finally be reaching an end…maybe. In this episode: Pete Buttigieg, @SecretaryPete Cynthia Littleton, @Variety_Cynthia Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @Andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C NBC producer Katie Kramer today on Squawk Pod.
0:08.0	The EU in an energy bind, but what do Russian gas flows to Europe mean for us?
0:14.0	U.S. Transportation Secretary Pete Budigit.
0:16.0	The more reliant on hydrocarbons we've been,
0:19.0	the more dependent we've been or vulnerable we've been
0:22.0	to the choices and actions of
0:23.9	dictators and aggressors abroad. And streamers relax. Netflix is doing okay for now.
0:30.5	The financials that put most media investors at ease,
0:34.0	Variety Editor-in-Chief Cynthia Littleton.
0:36.3	Netflix is the pace car right now for the content business.
0:40.3	Those stories, plus, it wouldn't be a business news cycle without an update on the Musk
0:45.2	Twitter drama now in the courtroom, is an end in sight?
0:48.8	The writing is on the wall here.
0:50.0	That tells you which way she's going to rule.
0:52.4	Maybe not. He thinks that he's going to rule. Maybe not.
0:53.0	If he thinks that he's right, he might just appeal this
0:55.5	and keep running through everything.
0:57.0	It's Wednesday, July 20, 2022, Squawk Pod begins right now. First up on today's podcast, The Global Balance of Energy and will start in Europe. That is because the
1:14.7	EU's energy situation is tenuous and they're up against a deadline. The Nord Stream
1:20.7	pipeline that's the main artery for Russian gas flow to the rest of Europe,
1:24.6	is currently down for maintenance and will be, theoretically, back up and running tomorrow,
	...

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